Managing Salaries and Wages, Pension Funds and Personal Income Tax Administration Course

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Why Attend

Effective management of salaries and wages, pension funds, and personal income tax administration is crucial for organizational success and compliance. This course provides practical insights into payroll management, incentive schemes, and tax regulations, ensuring that HR and finance professionals can confidently navigate complex compensation structures. Learn how to optimize salary structures, administer pensions efficiently, and comply with tax laws to enhance workforce satisfaction and financial stability. Whether you’re in HR, accounting, or executive leadership, mastering payroll administration and pension fund management will position you as a valuable asset to your organization.

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Participants will be exposed to time tested and best practice methods in salaries and wages, pension find and personal income Tax Administration.

Content:

Salaries And Wages Administration Procedure

• Salaries and wage management objectives and methods
• Design and implementation of salaries and allowances structures
• Establishing salary bands, programmes, curves, rations internal relativities, reviews etc.
• Salaries surveys: the way to go about it.
• Trade unions and collective bargaining process including collective agreements
• Managing salaries and allowances of top management staff.

Salaries And Wages Incentive Schemes

• Attracting and retaining quality staff though pro-active salaries and wage administration
• Worker expectation: implication of the mnemonics CLAMPERS
• The various available incentive schemes: time work, payment by results, group bonus scheme, individual bonus schemes, profit sharing and co-partnership schemes etc.
• Various special payments i.e. Hazard allowance, call allowance, shift allowance etc.
• Design, implementation, and control
• Emerging trends in payroll inventive schemes.

Corporate Human Resources Management Policies And Salaries And Wages Administration

• Salaries and wages disbursement policy and procedure
• The various corporate policies and implication for payroll viz working hours, overtime, probation, confirmation, promotions, annual leave, transfers, redeployment, caution, warming, suspension, eternity leave, sick leave, loans dismissals etc.
• Managing payroll levels including staff rationalization and implications for salaries and wages administration
• The issue of ghost workers: who are they?
• Pension and gratuities managements
• Salaries and wages administration and dispute resolutions

Personal Income Tax Rules

• Eligibility, Residence, Exemption, Tax Authority, Allowance, Tax Rates, Minimum Tax
• Benefits in kind, etc.
• Dispute resolution
• Tax returns to tax authorities
• Offences and penalties
• Implications of year 2007 budget
• Taxation laws and accounts and implications for effective salaries and wages administration
• Expatriate staff salaries and allowance including tax implications
• Magnetization of benefits including tax implications
• Managing deductions in respect of PAYE, NHF, pensions etc.

Trusteeship And Legal Framework In pension Fund Administration

• Processes involved in setting up a pension fund
• The pension trust deed
• Trustees: quality, duties, and responsibilities
• Legal requirements and decided cases
• The role of the Nigeria social insurance trust fund

Provisions Of Pension Act

• Review of existing pension laws
• Salient provisions of the new pension reform Act
• The role of the Nigeria Social Insurance Trust Fund (NSITF) and the National Pension Commission (NPC)
• The Concept of Pension Fund Administrator (PFA) and pension Fund Custodian (PFC)
• Transitional arrangements to the New Act.
• The judicial Pension as stipulated in Sec. 291 of the Constitution
• Federal Government bonds and the role of the Central Bank of Nigeria (CBN) and Securities Exchange Commission (SEC)
• The role and responsibilities of Banks and other Financial Institutions
• Other Issues

Salaries, Wages, Pensions Accounting

• Budgeting for salaries and pensions contribution
• Preparing schedules: information, layout general ledger, control accounts final accounts.
• Making prompt returns and management of remittances to appropriate authorities
• Auditing and investigating payroll and pensions transaction
• Fraud in payroll and pension administration administration
• Liquidity management implication in payroll and pension administration

Facilitators: A Distinguished team of Facilitators who are eminently qualified Professionals has been assembled to lead discussions in course of the workshop.

For Whom: Accountants, Auditors Signor Executives with tax responsibilities Personnel and Admin. Managers and other Senior Middle Management who perform related functions in the public and private sectors including Banks, Oil Companies, Trading organizations, Government Ministries, Parastatals, Agencies, Commissions, Local Governments, etc.

Methodology: Formal lectures, Group discussions and Case study.

By attending this course, you’ll gain hands-on expertise in managing salaries and wages, pension funds, and personal income tax administration, ensuring legal compliance and efficient payroll management within your organization.